Week of January 29, 2024
In an effort of self-assessment, we note that our “out-of-the-mainstream” yellow Signal characterization of the US economy has proven accurate as fourth-quarter US GDP showed a respectable 3.3% gain. But, in late September we thought valuations on the SP500 were starting to look rich, moving from green to yellow and this proved premature (wrong). We also changed our reference on Monetary Policy from red to yellow in March of 2023, approximately correct. Our Signals remain unchanged this week.
Bob Bilkie, CFA